Zacks Investment Management Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Zacks Investment Management raised its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 443.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 439,344 shares of the technology company's stock after purchasing an additional 358,564 shares during the period. Zacks Investment Management's holdings in Arista Networks were worth $48,561,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitlin John LLC lifted its stake in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC lifted its position in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont boosted its stake in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC increased its position in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 195 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ANET. UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and increased their price target for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Evercore ISI cut their price target on Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Rosenblatt Securities reiterated a "sell" rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Erste Group Bank downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Finally, Barclays reissued an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.07.

Insider Activity at Arista Networks

In other news, SVP Marc Taxay sold 51,848 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,031 shares of company stock worth $39,364,943. Corporate insiders own 3.54% of the company's stock.

Arista Networks Trading Down 1.1 %

Shares of NYSE:ANET traded down $0.77 during mid-day trading on Friday, reaching $71.11. The company had a trading volume of 8,564,418 shares, compared to its average volume of 9,111,934. The company's 50-day moving average price is $84.23 and its 200-day moving average price is $99.29. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The firm has a market cap of $89.67 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.